Question: How would you work these problems? A house sells for $404,500 and a 25% down payment is made. A 30-year mortgage at 7% was obtained.

How would you work these problems?

A house sells for $404,500 and a 25% down payment is made. A 30-year mortgage at 7% was obtained.

(i)Find the down payment.

(ii)Find the amount of the mortgage.

(iii)Find the monthly payment.

(iv)Find the total interest paid

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